Rupee-dollar parity: Let's get the facts right

The external value of the rupee has become a matter of political debate, which is fine. What is not fine is that positions should be taken on the basis of historical fiction. It is bad enough that Narendra Modi, the Bharatiya Janata Party's (BJP's) all-but-formal candidate for prime minister next year, should articulate more than once the mythical "fact" that has been floating around in the cyber world that the rupee was equal to a US dollar in 1947.

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